Pillsbury Institute for Hospitality Entrepreneurship Reports

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The following publications by Pillsbury Institute for Hospitality Entrepreneurship faculty speak to the three core facets to the foundation of the Institute's operations: education, experience, and engagement. They provide a grounding in the issues surrounding entrepreneurship in the hospitality industry, and our faculty's leadership in its study


Recent Submissions

Now showing 1 - 4 of 4
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    A Hybrid Approach to Short-term Rentals
    Gregor, Robert (2023-09-25)
    The owners of a mom-and-pop hotel in Lake George, New York, devised and tested the idea of promoting their property both through traditional hotel channels and by listing the property’s rooms on Airbnb. To make the property more attractive to Airbnb customers, management downsized the hotel from 60 rooms to 35 rooms and added kitchenettes throughout. Even considering conversion costs, financial results were initially promising, with improved occupancy, average daily rate, and funds from operations. In addition to the financial outcomes, the hybrid approach addresses several social concerns about the Airbnb model. Most critically, the property is operating on a parcel zoned for commerce of this type, rather than occupying a house in a residential neighborhood. Consequently, the risk of additional regulation is low, and the property does not add to the real estate turbulence resulting from the purchase activities of would-be Airbnb investors. Finally, since the property is, in fact, a hotel, it is staffed around the clock to address any issues that arise, thus addressing another issue for Airbnb—namely, absentee rentals where guests may conduct rowdy parties.
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    Consolidating the $50 Billion U.S. Short-term Rental Market
    Lólis, Philip; Scott, Mike; Dickinson, Clay (2023-08-07)
    Over 72 percent of all hotels in the United States are affiliated with large brands like Marriott, Hilton, IHG, and Hyatt. In contrast, the largest operator in the short-term rental (STR) market, Vacasa, manages less than 1 percent of the total market. With around $53.5 billion in gross booking value, or about 25 percent of the entire U.S. lodging industry, the STR market presents an enticing consolidation opportunity.
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    The Plan for Donations or “Don’tations”: The Case of the Alumni-Funded Entrepreneurship Center
    Olsen, Mona Anita (2012-01-01)
    This case was developed for use in a course on entrepreneurial education that focuses on leadership. Background from Blue Stone University, including information on its mission, organizational structure, metrics, entrepreneurial programs, and stakeholders, is presented. This case explores how a school within a university approached the creation of an entrepreneurship center as a result of a substantial alumni donation. Students must analyze the scenario from the viewpoint of various stakeholders, identify pros and cons of the evolution of the entrepreneurship programs within the school and the university, and brainstorm alternative approaches for future donation-based center creation at Blue Stone University.
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    Entrepretality: Entrepreneurship Education in the Hospitality Industry
    Olsen, Mona Anita K.; Mykletun, Reidar J. (2012-09-29)
    Entrepreneurship is becoming increasingly important to strategic programmatic initiatives at universities. Entrepreneurship education at the university level is important to building the next generation of leaders for global innovation. The term entrepreneurship varies widely causing confusion when setting plans for entrepreneurship education curriculum development at the university level. This chapter outlines a foundational, working definition of entrepreneurship that combines two goals of entrepreneurship education: new venture creation and value creation. It also provides a high-level overview of the evolution of entrepreneurship education and global entrepreneurship education and research. The new term entrepretality, or entrepreneurship education in the hospitality industry, is defined. Additionally, the basic assumptions of situated learning and hermeneutic phenomenological inquiry are outlined. Examples of situated learning in the hospitality industry, specifically in rural tourism and the culinary arts, are presented. Finally, the chapter discusses implications for the future for entrepretality, highlighting the need to continue to link the academic and the practical.